A report published published by EPRA, "Stock Exchange Listed Property Companies; Building a Stronger Europe", examines the unique role of listed property as a platform for the European economy, providing the space and infrastructure needed for the EU’s businesses, families, hospitals, schools and leisure activities.

EPRA’s research found that listed property companies are major players in the most substantial, ambitious, capital-intensive and longest-term projects, meeting the accommodation and infrastructure needs of European citizens. Relative to the size of their property portfolios, listed property companies devote two-to-three times as much investment to the development of new buildings and the improvement of existing buildings than the rest of the real estate industry.

According to EPRA, the combination of accessibility and transparency allows listed property companies to attract capital from the widest range of investors, whether this is through debt or equity, and this is a critical attribute during difficult times in the economic cycle. Capital raising in the listed property sector is more counter-cyclical than in other real estate vehicles, as company management generally decide when they wish to raise money in the market and shareholders are able to buy or sell their investments at any time. This contrasts with many fund structures where, for example, fund managers were subject to a 'wall of money' at the height of the last real estate market boom and mass redemptions in the subsequent downturn.

Click here to download the report (PDF, 1.7 MB)